What do difficulties in South Africa mean to platinum prices?
*Financial Times, by Chris Flood, February 4, 2008:
"Platinum prices continued their record breaking run on Monday while
gold slipped below the $900 level and oil prices eased back following
Opec’s decision last week to keep its production quotas unchanged.
Platinum hit a record $1,789 a troy ounce before easing back to trade around $1,780, up 1.6 per cent since Friday, amid ongoing concerns about supply interruptions in South Africa where an energy supply crisis has caused widespread disruption to mining operations.
South Africa supplies around 80 per cent of global platinum output but mining companies have been unable to operate at full capacity over the past week due to a lack of consistent power supplies."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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